Mold-Tek Packaging gains on receiving LoA from Grasim Industries – Birla Paints Division

Mold-Tek Packaging is currently trading at Rs. 892.00, up by 3.20 points or 0.36% from its previous closing of Rs. 888.80 on the BSE.

Mold Tek Packaging
Mold Tek Packaging

The scrip opened at Rs. 888.35 and has touched a high and low of Rs. 917.10 and Rs. 869.90 respectively. So far 2399 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1057.85 on 19-Aug-2022 and a 52 week low of Rs. 644.10 on 29-Nov-2021.

Last one week high and low of the scrip stood at Rs. 917.10 and Rs. 850.00 respectively. The current market cap of the company is Rs. 2891.60 crore.

The promoters holding in the company stood at 34.23%, while Institutions and Non-Institutions held 28.77% and 37.00% respectively.

Mold-Tek Packaging has received a Letter of Award (LoA) from Grasim Industries – Birla Paints Division, for supply of Packing Material (PAILS) and accordingly, a co-located facility will be set-up by the Company at Panipat to cater to their demands.

The new facility is expected to be set up and operational by the end of calendar year 2023 and shall call for an investment of Rs 30 crore approximately. The company also proposes to set up Food and FMCG IML container manufacturing facilities in Panipat to capture demand for these products in Northern India.

Mold-Tek Packaging is the leader in rigid plastic packaging in India. The company is involved in the manufacturing of injection molded containers for lubes, paints, food and other products.

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